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1 – 10 of 12The discrete Fourier transform (dft) of a fractional process is studied. An exact representation of the dft is given in terms of the component data, leading to the frequency…
Abstract
The discrete Fourier transform (dft) of a fractional process is studied. An exact representation of the dft is given in terms of the component data, leading to the frequency domain form of the model for a fractional process. This representation is particularly useful in analyzing the asymptotic behavior of the dft and periodogram in the nonstationary case when the memory parameter
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Masoud Kavoosi, Maxim A. Dulebenets, Olumide Abioye, Junayed Pasha, Oluwatosin Theophilus, Hui Wang, Raphael Kampmann and Marko Mikijeljević
Marine transportation has been faced with an increasing demand for containerized cargo during the past decade. Marine container terminals (MCTs), as the facilities for connecting…
Abstract
Purpose
Marine transportation has been faced with an increasing demand for containerized cargo during the past decade. Marine container terminals (MCTs), as the facilities for connecting seaborne and inland transportation, are expected to handle the increasing amount of containers, delivered by vessels. Berth scheduling plays an important role for the total throughput of MCTs as well as the overall effectiveness of the MCT operations. This study aims to propose a novel island-based metaheuristic algorithm to solve the berth scheduling problem and minimize the total cost of serving the arriving vessels at the MCT.
Design/methodology/approach
A universal island-based metaheuristic algorithm (UIMA) was proposed in this study, aiming to solve the spatially constrained berth scheduling problem. The UIMA population was divided into four sub-populations (i.e. islands). Unlike the canonical island-based algorithms that execute the same metaheuristic on each island, four different population-based metaheuristics are adopted within the developed algorithm to search the islands, including the following: evolutionary algorithm (EA), particle swarm optimization (PSO), estimation of distribution algorithm (EDA) and differential evolution (DE). The adopted population-based metaheuristic algorithms rely on different operators, which facilitate the search process for superior solutions on the UIMA islands.
Findings
The conducted numerical experiments demonstrated that the developed UIMA algorithm returned near-optimal solutions for the small-size problem instances. As for the large-size problem instances, UIMA was found to be superior to the EA, PSO, EDA and DE algorithms, which were executed in isolation, in terms of the obtained objective function values at termination. Furthermore, the developed UIMA algorithm outperformed various single-solution-based metaheuristic algorithms (including variable neighborhood search, tabu search and simulated annealing) in terms of the solution quality. The maximum UIMA computational time did not exceed 306 s.
Research limitations/implications
Some of the previous berth scheduling studies modeled uncertain vessel arrival times and/or handling times, while this study assumed the vessel arrival and handling times to be deterministic.
Practical implications
The developed UIMA algorithm can be used by the MCT operators as an efficient decision support tool and assist with a cost-effective design of berth schedules within an acceptable computational time.
Originality/value
A novel island-based metaheuristic algorithm is designed to solve the spatially constrained berth scheduling problem. The proposed island-based algorithm adopts several types of metaheuristic algorithms to cover different areas of the search space. The considered metaheuristic algorithms rely on different operators. Such feature is expected to facilitate the search process for superior solutions.
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Valeria Maltseva, Joonho Na, Gyuseung Kim and Hun-Koo Ha
We adopt a super slack-based measurement (SBM) data envelopment analysis (DEA) model to estimate the efficiency of five biggest freight rail operators in Russia, which are…
Abstract
We adopt a super slack-based measurement (SBM) data envelopment analysis (DEA) model to estimate the efficiency of five biggest freight rail operators in Russia, which are included in the top 30 freight rail operators in terms of two dimensions – financial and operational efficiency during 2013–2017. The result shows that the private companies characterized by high financial and operational efficiency, while the Rossiiskye Zheleznye Dorogi (RZD) subsidiaries characterized by sufficiently low financial and operational efficiency scores. And the result also presents that operational efficiency score of operators handling universal rolling stock is higher than financial efficiency scores. In contrast, financial efficiency scores of operators handling special rolling stock is higher than operational efficiency scores. rail freight operators in addition to a special rolling stock park should have a universal rolling stock park for higher profitability. State-owned companies and its subsidiary operate inefficiently in the midst of a market economy in Russia. Rail freight operators for a higher level of financial efficiency should be transferred to the private sector.
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Carlos Alberto Rojas Trejos, Jose D. Meisel and Wilson Adarme Jaimes
The purpose of this paper is to review the relevant literature in order to identify trends and suggest some possible directions for future research in the framework of…
Abstract
Purpose
The purpose of this paper is to review the relevant literature in order to identify trends and suggest some possible directions for future research in the framework of humanitarian aid distribution logistics with accessibility constraints.
Design/methodology/approach
The authors developed a systematic literature review to study the state of the art on distribution logistics considering accessibility constraints. The electronic databases used were Web of science, Scopus, Science Direct, Jstor, Emerald, EBSCO, Scielo and Redalyc. As a result, 49 articles were reviewed in detail.
Findings
This study identified some gaps, as well as some research opportunities. The main conclusions are the need for further studies on the interrelationships and hierarchies of multiple actors, explore intermodality, transshipment options and redistribution relief goods to avoid severe shortages in some nodes and excess inventory in others, studies of the vulnerability of transport networks, correlational analysis of road failures and other future lines.
Research limitations/implications
The bibliography is limited to peer-reviewed academic journals due to their academic relevance, accessibility and ease of searching. Most of the studies included in the review were conducted in high-income countries, which may limit the generalizability of the results to low-income countries. However, the authors focused on databases covering important journals on humanitarian logistics.
Originality/value
This paper contextualises and synthesises research into humanitarian aid distribution logistics with accessibility constrains, highlights key themes and suggests areas for further research.
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Matilda R. Brady and Paul Goethals
To recover the growing deficit between American and near-peer mobile artillery ranges, the US Army is exploring the use of the M982 Excalibur munition, a family of long-range…
Abstract
Purpose
To recover the growing deficit between American and near-peer mobile artillery ranges, the US Army is exploring the use of the M982 Excalibur munition, a family of long-range precision projectiles. This paper aims to analyze the effectiveness of the M982 in comparison to the M795 and M549A1 projectiles to further the understanding of what this new asset contributes.
Design/methodology/approach
Based upon doctrinal scenarios for target destruction, a statistical analysis is performed using Monte Carlo simulation to identify a likely probability of kill ratio for the M982. A values-based hierarchical modeling approach is then used to differentiate the M982 from similar-type projectiles quantitatively in terms of several different attributes. Finally, sensitivity analyzes are presented for each of the value attributes, to identify areas where measures may lack robustness in precision.
Findings
Based upon a set of seven value measures, such as maximum range, effective range, the expected number of rounds to destroy a target, and the unit cost of a munition, the M982 1a-2 was found to be best suited for engaging point and small area targets. It is noted, however, that the M795 and M549A1 projectiles are likely better munition options for large area targets. Hence, an integrated targeting plan may best optimize the force’s weapon systems against a near-peer adversary.
Originality/value
The findings provide initial evidence that doctrinal adjustments in how the Army uses its artillery systems may be beneficial in facing near-peer adversaries. In addition, the values-based modeling approach offered in this research provides a framework for which similar technological advances may be examined.
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Aibing Ji, Hui Liu, Hong-jie Qiu and Haobo Lin
– The purpose of this paper is to build a novel data envelopment analysis (DEA) model to evaluate the efficiencies of decision making units (DMUs).
Abstract
Purpose
The purpose of this paper is to build a novel data envelopment analysis (DEA) model to evaluate the efficiencies of decision making units (DMUs).
Design/methodology/approach
Using the Choquet integrals as aggregating tool, the authors give a novel DEA model to evaluate the efficiencies of DMUs.
Findings
It extends DEA model to evaluate the DMU with interactive variables (inputs or outputs), the classical DEA model is a special form. At last, the authors use the numerical examples to illustrate the performance of the proposed model.
Practical implications
The proposed DEA model can be used to evaluate the efficiency of the DMUs with multiple interactive inputs and outputs.
Originality/value
This paper introduce a new DEA model to evaluate the DMU with interactive variables (inputs or outputs), the classical DEA model is a special form.
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Joshua L. McDonald, Edward D. White, Raymond R. Hill and Christian Pardo
The purpose of this paper is to demonstrate an improved method for forecasting the US Army recruiting.
Abstract
Purpose
The purpose of this paper is to demonstrate an improved method for forecasting the US Army recruiting.
Design/methodology/approach
Time series methods, regression modeling, principle components and marketing research are included in this paper.
Findings
This paper found the unique ability of multiple statistical methods applied to a forecasting context to consider the effects of inputs that are controlled to some degree by a decision maker.
Research limitations/implications
This work will successfully inform the US Army recruiting leadership on how this improved methodology will improve their recruitment process.
Practical implications
Improved US Army analytical technique for forecasting recruiting goals..
Originality/value
This work culls data from open sources, using a zip-code-based classification method to develop more comprehensive forecasting methods with which US Army recruiting leaders can better establish recruiting goals.
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Ahlem Lamine, Ahmed Jeribi and Tarek Fakhfakh
This study analyzes the static and dynamic risk spillover between US/Chinese stock markets, cryptocurrencies and gold using daily data from August 24, 2018, to January 29, 2021…
Abstract
Purpose
This study analyzes the static and dynamic risk spillover between US/Chinese stock markets, cryptocurrencies and gold using daily data from August 24, 2018, to January 29, 2021. This study provides practical policy implications for investors and portfolio managers.
Design/methodology/approach
The authors use the Diebold and Yilmaz (2012) spillover indices based on the forecast error variance decomposition from vector autoregression framework. This approach allows the authors to examine both return and volatility spillover before and after the COVID-19 pandemic crisis. First, the authors used a static analysis to calculate the return and volatility spillover indices. Second, the authors make a dynamic analysis based on the 30-day moving window spillover index estimation.
Findings
Generally, results show evidence of significant spillovers between markets, particularly during the COVID-19 pandemic. In addition, cryptocurrencies and gold markets are net receivers of risk. This study provides also practical policy implications for investors and portfolio managers. The reached findings suggest that the mix of Bitcoin (or Ethereum), gold and equities could offer diversification opportunities for US and Chinese investors. Gold, Bitcoin and Ethereum can be considered as safe havens or as hedging instruments during the COVID-19 crisis. In contrast, Stablecoins (Tether and TrueUSD) do not offer hedging opportunities for US and Chinese investors.
Originality/value
The paper's empirical contribution lies in examining both return and volatility spillover between the US and Chinese stock market indices, gold and cryptocurrencies before and after the COVID-19 pandemic crisis. This contribution goes a long way in helping investors to identify optimal diversification and hedging strategies during a crisis.
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Maria Mora Rodríguez, Francisco Flores Muñoz and Diego Valentinetti
The purpose of this paper is to explore the impact of recent developments in corporate reporting, specifically from the carbon disclosure project (CDP) environment, in the…
Abstract
Purpose
The purpose of this paper is to explore the impact of recent developments in corporate reporting, specifically from the carbon disclosure project (CDP) environment, in the evolution of European post-crisis financial markets.
Design/methodology/approach
Theoretical and instrumental advancements from nonlinear dynamics have been applied to the analysis of market behaviour and the online presence or reputation of major European listed banks.
Findings
The application of a nonlinear statistical methodology (i.e. the autoregressive fractionally integrated moving average [ARFIMA] estimation model) demonstrates the presence of a long history of collected data, thus indicating a certain degree of predictability in the time series. Also, this study confirms the existence of structural breakpoints, specifically the impact of the CDP reporting in both stock prices and online search trends of the sampled companies for certain periods.
Research limitations/implications
This study introduces new methodological perspectives in corporate reporting studies, as the application of nonlinear techniques can be more effective in capturing corporate transparency issues. A limitation to overcome is to explore whether the impact of reporting is different due to the specific reporting behaviour each company adopts.
Practical implications
The “breakpoint” concept should enlighten the importance to firms of providing more information in specific moments, which can impact on both traditional (i.e. stock prices) and modern (i.e. online popularity) performance metrics. Additionally, it should be taken into account by stakeholders, when analysing the accountability of firms to improve their decision-making processes and policymakers, for monitoring and contrasting speculative and insider trading activities.
Social implications
Online search trends represent a new public attitude to how society “measures” the effectiveness of firms’ disclosure behaviours.
Originality/value
Combining ARFIMA with structural break techniques can be regarded as a relevant and complementary addition to classic “market reaction” or “value relevance” techniques.
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